JANEX Enterprise Fund

A differentiated mid-cap growth strategy that takes a moderate approach to an asset class known for rapid growth potential

NAV
$144.50
As of 08/14/2020

1-Day Change
-$0.43 (-0.30%)
As of 08/14/2020

YTD Return
1.91%
As of 08/14/2020

Morningstar Rating

As of 07/31/2020

Morningstar Analyst Rating
Morningstar Analyst Rating				Silver
As of 07/31/2020

Closed to new investors.

Overview

Investment Update

Watch now for a current market perspective and outlook from the investment team.

ABOUT THIS FUND

By taking a moderate approach to an asset class with potential for rapid growth, this mid-cap growth fund has demonstrated lower volatility than the index. Unlike many competitor products that focus on short-term growth rates, this strategy seeks to invest in companies exhibiting sustainable and durable growth.

WHY INVEST IN THIS FUND

Smart Growth Approach
The Fund’s investment approach focuses on long-duration, sustainable-growth companies with strong competitive advantages and large addressable markets. We seek to avoid companies with rapid but unsustainable, short-term growth profiles.

Deep, Specialized Team
The Fund benefits from experienced Portfolio Managers with expertise in mid-cap investing; in-depth fundamental research conducted by a dedicated team of experts exclusively focused on small-mid-cap companies; and the broader support of an insightful team of equity investment professionals.

Growth Potential with Tempered Volatility
The portfolio offers exposure to medium-size companies with resilient business models and is designed to weather a variety of market environments and take on moderately less risk than the index.

Knowledge. Shared

At Janus Henderson, we believe in the sharing of expert insight for better investment and business decisions.

We call this ethos Knowledge. Shared.

PORTFOLIO MANAGEMENT

Brian Demain, CFA

Portfolio Manager

Industry since 1999. Joined Firm in 1999.

Philip Cody Wheaton, CFA

Portfolio Manager | Research Analyst

Industry since 2001. Joined Firm in 2001.

Performance

RETURNS (%) (As of 06/30/2020)
Enterprise Fund - Class D Shares Russell MidCap® Growth Index
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(09/01/1992)
Enterprise Fund - Class D Shares 23.21 -6.44 0.16 11.60 11.60 15.07 11.01
Russell MidCap® Growth Index 30.26 4.16 11.91 14.76 11.60 15.09 10.47
RETURNS (%) (As of 07/31/2020)
Enterprise Fund - Class D Shares Russell MidCap® Growth Index
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(09/01/1992)
Enterprise Fund - Class D Shares 13.92 -1.22 3.96 13.24 12.67 15.03 11.19
Russell MidCap® Growth Index 21.62 12.48 18.09 17.09 12.96 15.21 10.74
CALENDAR YEAR RETURNS (%)
Enterprise Fund - Class D Shares Russell MidCap® Growth Index
 
  2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Enterprise Fund - Class D Shares 25.93 -1.78 17.70 30.72 12.00 3.39 11.99 26.47 -0.96 35.21
Russell MidCap® Growth Index 26.38 -1.65 15.81 35.74 11.90 -0.20 7.33 25.27 -4.75 35.47
GROWTH OF A HYPOTHETICAL INVESTMENT

RETURNS-BASED STATISTICS (As of 07/31/2020 Class I Shares)

RISK / REWARD
VS. Russell MidCap® Growth Index
3YR 5YR
Information Ratio -0.81 -0.06
Alpha -2.25 0.70
Tracking Error 4.69 4.04
Beta 0.94 0.93
R-squared (%) 94.80 94.78
UP/DOWN MARKET CAPTURE (%)
VS. Russell MidCap® Growth Index
3YR 5YR
Up Capture Ratio 84.82 91.92
Down Capture Ratio 93.89 89.70
STANDARD DEVIATION 3YR 5YR
Enterprise Fund 19.69 16.73
Russell MidCap® Growth Index 20.50 17.61
SHARPE RATIO 3YR 5YR
Enterprise Fund 0.59 0.69
Russell MidCap® Growth Index 0.75 0.67
ANNUAL FEES & EXPENSES (As of Fiscal Year End, 09/30/2019)
CLASS D SHARES
Management Fees 0.64%
12b-1 Fees -
Other Expenses 0.17%
Total Gross Expenses 0.81%
Waivers 0.00%
Total Net Expenses 0.81%

Portfolio

Index represents the Russell MidCap® Growth Index.

Top Holdings (As of 07/31/2020)
% of Fund
Constellation Software Inc/Canada 2.86
Microchip Technology Inc 2.53
Nice Ltd (ADR) 2.43
SS&C Technologies Holdings Inc 2.42
Aon PLC 2.38
Global Payments Inc 2.29
Broadridge Financial Solutions Inc 2.23
PerkinElmer Inc 2.01
TE Connectivity Ltd 1.99
Intact Financial Corp 1.94
Total 23.08
View full holdings
Portfolio Characteristics (As of 07/31/2020)
  FUND INDEX
Number of Holdings
Equity Issues
80 330
Market Capitalization
Weighted Average
$21.84B $20.24B
Portfolio Turnover Rate
(1-year trailing)
12.77% -
Price/Earnings Ratio
(1-year forward)
30.22 43.55
Price/Book Ratio
(1-year forward)
5.03 12.38
Earnings Growth Rate
(1-year forward)
-6.18% 1.64%
Sector Allocation % OF FUND % of Index % OF FUND % of Index (As of 07/31/2020)
Information Technology 36.95 36.54
Health Care 19.60 22.90
Industrials 15.01 11.92
Financials 10.92 3.80
Consumer Discretionary 7.70 10.85
Real Estate 2.58 1.40
Energy 1.40 0.43
Materials 1.13 2.15
Utilities 0.72 0.10
Communication Services 0.51 5.55
Cash & Equivalents 3.48 -
Regional Allocations % OF FUND % of Index % OF FUND % of Index (As of July 31, 2020)
North America 90.66 98.14
Africa/Mideast 2.43 -
Europe 1.93 1.22
Asia/Pacific Ex Japan 1.50 0.15
Cash & Equivalents 3.48 -
MARKET CAPITALIZATION RANGE OF EQUITY HOLDINGS % OF FUND % OF INDEX % OF FUND % OF INDEX (As of July 31, 2020)
Over $100B 0.66
$50B to $100B 9.24
$10B to $50B 59.70 82.50
$5B to $10B 21.13 13.86
$1B to $5B 5.42 3.64
N/A 0.37
Developed VS Emerging Markets % OF FUND % of Index % OF FUND % of Index (As of July 31, 2020)
U.S. 84.20 98.14
Non-U.S. Developed 12.32 1.22
Cash & Equivalents 3.48 -

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